Trade Letters of Credit. All trade or documentary Letters of Credit issued by Agent for the account of any Loan Party pursuant to the terms set forth in this Agreement, in connection with the purchase by any Loan Party of goods or services in the ordinary course of business.
Trade Letters of Credit. Chase agrees, on the terms and conditions hereinafter set forth, to issue trade letters of credit with a maturity date of up to one hundred eighty (180) days from the date of issuance ("Trade Letters of Credit") for the account of the Borrower, during the period from the Effective Date to the Revolving Credit Termination Date provided that at no time will the outstanding Trade Letter of Credit Obligations exceed the lesser of (1) Thirty-Five Million Dollars ($35,000,000) less all Standby Letters of Credit, or (2) the Revolving Credit Commitment less outstanding Revolving Credit Loans and Standby Letters of Credit (the "Trade Letter of Credit Commitment"); provided further, that Chase will not be required to issue a Trade Letter of Credit with a maturity date of more than 90 days after the Revolving Credit Termination Date, provided however, all of such outstanding Trade Letters of Credit Obligations, and/or Standby Letters of Credit Obligations as of two days prior to the Revolving Credit Termination Date are cash collateralized at one hundred and five (105%) percent of the face value. Title documents shall be consigned to Chase at Chase's request.
Trade Letters of Credit. The Borrower shall pay with respect to each trade Letter of Credit (i) to the Agent on behalf of the Banks a fee calculated (on the basis of the actual number of days elapsed over a year of 360 days) at the rate per annum equal to the Applicable Margin in effect for Eurodollar Loans times 0.75 on the stated amount of each trade Letter of Credit then outstanding and (ii) to the Fronting Bank such Fronting Bank's customary fees for issuance and processing referred to in Section 2.03.
Trade Letters of Credit. Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Trade Letters of Credit for its own account, in a form reasonably acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time during the Revolving Availability Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Trade Letter of Credit, the terms and conditions of this Agreement shall control. Each Trade Letter of Credit is subject to the following terms and conditions:
Trade Letters of Credit. Each Borrower agrees to pay to the Administrative Agent for the benefit of the Fronting Bank payable on the date of a draw a fee on each Trade Letter of Credit issued for its account equal to one quarter of one percent (1/4%) multiplied by the face amount of the Trade Letter of Credit issued by the Fronting Bank.
Trade Letters of Credit. Chase agrees, on the terms and conditions hereinafter set forth, to issue trade letters of credit ("Trade Letters of Credit") for the account of the Borrower, from time to time during the period from the Closing Date to the Termination Date, provided that at the time of the issuance of such Trade Letter of Credit (a) the aggregate amount of all outstanding Trade Letters of Credit Obligations does not exceed at any time the Trade Letter of Credit Facility (the "Trade Letter of Credit Commitment") and (b) the aggregate amount of all Revolving Credit Loans plus Letter of Credit Obligations does not exceed the lesser of (A) the Revolving Credit Facility and (B) the then current Borrowing Base. Chase will not be required to issue a Trade Letter of Credit with a maturity date (1) more than one hundred eighty (180) days from the date of issuance of such Trade Letter of Credit, or (2) on or after the Termination Date.
Trade Letters of Credit. Notwithstanding anything contained in this Section 2.3, Ally, in its capacity as an Issuing Bank, shall be under no obligation to issue (or cause the issuance of) any trade Letters of Credit.
Trade Letters of Credit. Each Trade Letter of Credit shall (i) require presentation of either a sight draft or a time draft with a maturity no later than 30 days after its date, a bill of lading and whatever other xxxuments the Agent considers necessary or desirable to give it control over and a perfected security interest in the related goods, (ii) have an expiration date no later than 90 days after the date of issuance of such Letter of Credit, (iii) be used only for the shipment or importation of inventory of a Borrower and the payment of the purchase price thereof (inclusive, at the election of the Borrowers, of freight and insurance charges), (iv) may indicate only the Borrower requesting it as the account party on the face of the Letter of Credit, and (v) be otherwise reasonably acceptable to the Agent in form and content.
Trade Letters of Credit. Each trade letter of credit issued for the benefit of any Loan Party shall be processed for payment by the Agent or another Lender acceptable to the Agent in its absolute discretion.
Trade Letters of Credit. Chase agrees, on the terms and conditions hereinafter set forth, to issue trade letters of credit ("Trade Letters of Credit") for the account of any of the Letter of Credit Parties, from time to time during the period from the Closing Date to the Termination Date, provided that at the time of the issuance of such Trade Letter of Credit (a) the aggregate amount of all outstanding Trade Letters of Credit Obligations does not exceed at any time the Trade Letter of Credit Facility (the "Trade Letter of Credit Commitment"); (b) the aggregate amount of all Revolving Credit Loans plus Letter of Credit Obligations does not exceed the lesser of (A) the Revolving Credit Facility and (B) the then current Borrowing Base; and (c) the aggregate amount of all Trade Letter of Credit Obligations issued for the account of Merinta is not in excess of $3,500,000. Chase will not be required to issue a Trade Letter of Credit with a maturity date (1) more than one hundred eighty (180) days from the date of issuance of such Trade Letter of Credit, or (2) on or after the Termination Date. Notwithstanding the foregoing, Trade Letters of Credit established for the account of Merinta shall only be established if Boundless Technologies is a co-account party with respect to such Letter of Credit.
